US$350m Basic Research Fund Jointly Backed by NSFC and Corporates
The Natural Science Foundation of China (NSFC) recently signed an MOU with four provincial governments (Sichuan, Anhui, Hunan and Jilin) to establish the NSFC-Regional Fund. They also joined three state-owned enterprises (China Electronic & Technology Corp (CETC), China National Oil Offshore Corp (CNOOC), Sino Petroleum and Chemical Corp (Sinopec)) to establish the NSFC – Enterprises Joint Fund. A total of USD250m has been contributed to the Regional Fund, and a further USD100m has been contributed to the Corporate Fund, with NSFC contributing 25% of funding under each of the structures. The two funds share the aim of conducting basic research.